SON, THE NETHERLANDS – Neways Electronics swung to a first-half net profit on a 25% year-over-year jump in revenue.

The electronic manufacturing services company said net sales were €116.9 million for the period ended June 30. Net profit improved to €1.5 million, up from a loss of €4.2 million in the first half of 2009. Gross margin was 48.1%, up from 38% a year ago.

Sales were up 8.4% from the first quarter, to €60.8 million.

The company, ranked 38th in last year's CIRCUITS ASSEMBLY Top 50, cited a "clear and broad-based rise" in demand. In fact, the contract assembler said, suppliers could not keep up with demand.

Bookings as of June 30 were up 20% sequentially, and increased in July, Neways said.

The company forecast second-half results to exceed those of the first six months.

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